Worldwide revenues from wireless power devices to exceed $15B by
2020; systems based on resonant wireless power transfer to account for
more than 80% of total market

MIGDAL HAEMEK, Israel & GYEONGGI-DO, South Korea — (BUSINESS WIRE) — January 13, 2014 —
TowerJazz,
the global specialty foundry leader, and MAPS Inc. (Mixed Analog Power
Solution), a provider of mobile, lighting and automotive ICs, today
announced collaboration on the launch of the first resonant wireless
power transfer (WPT) receiver Chip(Rx) for mobile products which
integrates high efficiency full active rectifier (FAR) technology and
enables wireless charging at a distance which is cutting-edge in the
market. Resonance wireless power transfer offers greater distances
between coils versus inductive charging, which requires tight coupling
between transmitter and receiver. Wireless charging is a breakthrough in
the mobile communications and computing devices infrastructure arena.
MAPS expects mass production to begin in Q2 2014, targeting the giant
mobile, portable and computing market in Korea as well as worldwide.

Korea’s mobile market is one of the strongest in the world. MAPS, as a
local fabless company, has a high potential to be dominant in the
wireless charging market as the trend moves from inductive to resonant.
A recent report from Pike Research estimates that worldwide revenues
from wireless power devices will exceed $15 billion by 2020, and that
systems based on highly resonant wireless power transfer will account
for more than 80% of the total market.

MAPS’ exclusive technology, combined with TowerJazz’s 0.18um
Bipolar-CMOS-DMOS (BCD) process, enabled the first successful resonant
wireless power transfer (WPT) product in the market. Although inductive
WPT was already introduced by others, the resonant type that MAPS has
developed using TowerJazz’s BCD process is a first of its kind and
offers wireless power charging at greater distances than ever before.

TowerJazz’s 0.18um BCD process combines high-density digital CMOS,
embedded non-volatile memory, and area-efficient high voltage devices
with a sophisticated design kit that allows the optimization of
performance and die size and enables the fast introduction of innovative
and cost-effective products. The process design kit (PDK) includes
accurate analog models with Monte Carlo statistical capability showing
dispersion
of products so customers can tune and optimize their designs, enabling
higher performance and smaller size, in the shortest time frame.
Moreover, TowerJazz’s diverse process options such as metal combination,
high value resistors and stacked high-density MIM capacitors further
allow customers to optimize their products and offer the required
performance in the minimum die size.

“TowerJazz’s support, based on our strategic partnership, contributed to
the success of our technology development. This offering is significant
for both MAPS and TowerJazz as it is the leading product in the market
that can possibly bring big production volume in the near future,” said
Shin Hyunick, Chief Executive Officer of MAPS.

“We are excited that MAPS was successful using our 0.18um BCD process to
launch, in a very short time frame, its resonant wireless power transfer
as the first in the market. We will continually work closely with MAPS
to support mass production of the product. Moreover, as MAPS has diverse
roadmaps in addition to mobile products, we expect our capabilities can
support upcoming projects in other areas as well and bring about a
win-win result,” said Michael Song, Vice President of Sales and
President of TowerJazz Korea.

Availability

MAPS is currently sampling the product to various smartphone and battery
manufacturers and is working on system co-development. The current
charging efficiency of the receiver IC (Rx) is over 80%.

About MAPS

MAPS Inc. (Mixed Analog Power Solution) is a start-up company in Korea,
established in May, 2012. MAPS Inc. provides mobile, lighting and
automotive solutions through new technology development and invents
dependable silicon solutions, especially in Mixed-Analog Power
Management ICs. The main focus of MAPS Inc. is to develop “Wireless
Power Conversion and Wireless Power Charging.” Despite their short
business history, MAPS Inc. has already released the prototype of an
Rx(receiver) chip with full active rectifier for wireless power transfer
in magnetic resonance (A4WP). In addition, evaluation of the product is
underway now with top mobile companies.

This press release includes forward-looking statements, which are
subject to risks and uncertainties. Actual results may vary from those
projected or implied by such forward-looking statements. A complete
discussion of risks and uncertainties that may affect the accuracy of
forward-looking statements included in this press release or which may
otherwise affect TowerJazz’s business is included under the heading
"Risk Factors" in Tower’s most recent filings on Forms 20-F, F-3, F-4
and 6-K, as were filed with the Securities and Exchange Commission (the
“SEC”) and the Israel Securities Authority and Jazz’s most recent
filings on Forms 10-K and 10-Q, as were filed with the SEC,
respectively. Tower and Jazz do not intend to update, and expressly
disclaim any obligation to update, the information contained in this
release.